Smart Shelving Helps Inventory Management and Retail Storefronts
By installing wireless technology inside shelving, or "smart shelving," firms may automate processes like dynamic pricing, inventory monitoring, omnichannel, and more.
Digital shelves may be created in many ways, but digital labels are one of the most effective. The use of digital shelves has been more popular in recent years, particularly in retail establishments, as a means of digitizing inventory and, ultimately, automating routine tasks.
Stores formerly employed paper labels to reflect price changes and markdowns. However, this process is labor-intensive and leaves less time to cater to customers' demands. A company's use of electronic shelf labels allows for the elimination of paper price tags and the simplified implementation of pricing changes throughout the shop.
Why Use Smart Shelving Units?
Implementing smart shelving units not only improves inventory management as a whole but also solves several major issues. Nevertheless, to obtain the optimum results, businesses will need to use smart shelves in addition to the incorporation of additional sensors, such as RFID tags, 3D cameras, stock management applications, etc.
Along similar lines, the following are some of the most pressing problems that, depending on the setup, may be addressed using smart shelving units.
- Use of man-hours for inventory purposes.
- Inaccuracy while manually counting items.
- Acute shortages (stockouts) of some products.
- Lost, misplaced, or theft of items.
- Dispensing of stale or recalled commodities.
Benefits of Smart Shelving to Retailers
Here are a couple of benefits associated with employing smart shelving in retailers:
Make More Informed Decisions about Stocking and Inventory
Retailers may benefit from smart shelving in a number of ways, including improved data for stocking and inventory decisions, updates to the back-end system concerning stock levels, notifications of low inventory or theft, and alerts for missing or misplaced products.
Also, with smart shelving, product inventory data can be sent in real-time from the shelf or network of shelves to store proprietors, managers, partners, buyers, warehouse employees, or manufacturers, eliminating the need for a physical count to be ordered and performed in the warehouse or storeroom.
Provide Access to the Store or Shelf Information Remotely
Smart shelving permits remote access to the store's or shelf's information, allows for transparency of stock position while reducing the likelihood of out-of-stock situations and missed sales possibilities, and facilitates the up-selling and cross-selling of items.
Present Richer Colors for Vivid Presentation
Customizable design is one of the many benefits and features provided by smart shelf technology, which is a characteristic that is essential to the enhancement of the capabilities of your shelf labeling system. In essence, it makes use of your company's colors while displaying patterns, richer hues, and the logo in a more sophisticated manner.
Present Dynamic Information of the Products
Retailers were the primary focus of research and development for the dynamic LCD digital shelf display. Shoppers are drawn to these LCD shelves displays thanks to the digital technology and QR codes that enable consumers to access essential product information like nutrition facts. Apart from that, retailers may also boost sales by running promotions and communicating important product messages to customers.
Applications of Smart Shelf Technologies in Retail
Digital shelves may communicate with the customer's mobile device and installed applications. For instance, sensors built into the racks may detect your presence and display a discount for the same loaf of bread you bought last week. In addition, the smart shelving racks may communicate with your shopping list to point you in the direction of the products you need if you made it using the store's app.
Fifth-generation wireless networks (5G) are the latest and greatest in this field. Sensor-laden racks can track the whereabouts of a product, alert the warehouse when more of that item is needed, and keep tabs on the shipment's progress in real-time. Beyond more efficient inventory management, with 5G-enabled smart shelves, product information can be updated in real time, and changes are synchronized across different shelves. Doing these allow for more effective deployment of human labor. Additionally, 5G can usher in a new era of innovative retail experiences, such as an augmented reality (AR) app that activates the moment you enter a store and leads you to the shelf where your desired product is located.
In order to send and receive data, a radio frequency identification reader (RFID) requires a tag equipped with a microchip, reader, and antenna. Radio waves are used to transfer data and identify objects. RFID technology is useful for grocery stores since it allows for better stock control and management. Using radio frequency identification (RFID) tags, stores may be notified when shelves are empty, incorrectly stocked, or when an item has been misplaced. Your purchases may be automatically scanned using RFID tags embedded in every item, and automated checkout systems can help you complete your shopping experience in less time.
Also in this section, we highlight a feature of the next-generation, cutting-edge interactive digital signage to display product information. This may also be comprehended by thinking about it in terms of the notion of "lift and learn." One of the things this enables you to do, for instance, is to take down any of the items on the smart shelf. You will get interactive signage as a result of doing so, on which you will be able to view all of the product's specifications. Subsequently, customers are better able to connect with the product.
IoT Sensor (Internet of Things)
A temperature sensor connected to the Internet of Things (IoT) might be used in a supermarket for a variety of purposes. Using the Internet of Things, we can monitor freezer and case temperatures to ensure they are accurate before a temperature swing spoils the ice cream or renders the meat unfit for sale. Additionally, digital shelves may contribute to IoT by transmitting in-store behavioral metrics and sales data to salespeople for evaluation. The innovation may inform how grocery retailers organize their shelves and help them better understand what customers want.
Get Started with Smart Shelving!
Manufacturing companies, retail establishments, and individual shoppers are all jumping on the smart shelving bandwagon. The retail sector is experiencing radical change as a result of the digital revolution. Multiple, more sophisticated product-detecting devices will likely be integrated into shops in the near future. The smart shelf-management system's benefits are starting to sink in for many retailers. In the future, numerous technologies will intersect to provide a shopping experience that is satisfying for customers and lucrative for stores.
The smart shelf displays offered by AUO provide impressive visual effects and can garner attention even in well-lit environments. Moreover, installation and operation are simple with our USB plug-and-play function. Get in touch with us if you need more information.